Economic News August 16, 2012
Eurozone
annual inflation remained stable at 2.4 percent in July, final data
from Eurostat showed Thursday. The rate also matched flash estimate. On a
monthly basis, consumer prices were down 0.5 percent in July. (Aug 16, 2012) Full Article
Economic
confidence in Switzerland improved in August, data from a survey by
Credit Suisse and the Center for European Economic Research (ZEW) showed
Thursday. (Aug 16, 2012) Full Article
Spain's
merchandise trade deficit decreased from last year in June, helped by a
notable growth in exports and a contraction in imports, data released
by the government showed Thursday. (Aug 16, 2012) Full Article
Turkey's
central bank on Thursday decided to maintain its one-week repo rate at a
record low of 5.75 percent. The decision was in line with economists'
expectations. (Aug 16, 2012) Full Article
New
housing construction in the U.S. dipped more than expected in July, but
an equally unexpected strong jump in construction permitting offers
hopes for the future of the beleaguered housing market. According to
figures released Thursday by the Commerce Department, new
privately-owned housing starts came in at a seasonally adjusted annual
rate of 746,000, a 1.1 percent drop from June levels. Most economists
had predicted a drop in housing starts from the rebound in June, but
most had expe (Aug 16, 2012) Full Article
Initial
claims for U.S. unemployment insurance came in slightly higher than
anticipated in the week ended August 11th, according to a report
released by the Labor Department on Thursday, although claims appear to
have stabilized following recent volatility. (Aug 16, 2012) Full Article
Forex Top Story
The
Brazilian government has unveiled a key stimulus package aimed at
attracting as much as BRL 133 billion ($66 billion) in private
investment into the country's infrastructure projects over the next 25
years. (Aug 16, 2012) Full Article
China's
Premier Wen Jiabao has said that the economy is still under pressure,
despite some positive signs in some sectors, the official Xinhua News
Agency reported Wednesday. (Aug 16, 2012) Full Article
The
unemployment rate in South Korea fell to its lowest level in seven
months in July amid an increase in the number of self-employed persons,
data released by Statistics Korea showed Thursday. (Aug 16, 2012) Full Article
U.K.
retail sales expanded unexpectedly in July driven by promotions and
discounting, the Office for National Statistics revealed Thursday.
Further, the upward revision to June's retail sales boosted hopes that
the economy contracted less than initially estimated in the second
quarter. (Aug 16, 2012) Full Article
Commodities
Gold
demand declined in the second quarter as investment and jewellery
demand softened in India and China, data from the World Gold Council
showed Thursday. (Aug 16, 2012) Full Article
The
price of gold was little changed Thursday morning as the U.S. dollar
was trading firm ahead of today's economic data, including weekly
jobless claims data. (Aug 16, 2012) Full Article
The
price of crude oil was little changed Thursday morning amid a steady
dollar as traders await cues from today's economic data. Possible
tensions in Middle-East and a dip in crude oil inventories supported
prices. (Aug 16, 2012) Full Article
Political News
Ecuador
has accused the British government of threatening to arrest WikiLeaks
founder Julian Assange from its Embassy in London, and warned that such
an action would force a strong response from the South American nation. (Aug 16, 2012) Full Article
Four
Arab nations on Wednesday urged their citizens to leave Lebanon
immediately in the wake of the recent abductions of Sunni Muslims by a
Lebanese Shiite clan in retaliation for the capture of one of their
members by the rebel fighters in Syria. (Aug 16, 2012) Full Article
Strife-torn
Syria has been suspended from the Organization of Islamic Cooperation
(OIC) over the "brutal suppression" of a popular uprising by the regime
of embattled President Bashar al-Assad. (Aug 16, 2012) Full Article
Five
Chinese activists arrested by the Japanese police after landing on the
Diaoyu Islands in the East China Sea were brought to Naha port in the
Okinawa prefecture on Thursday. (Aug 16, 2012) Full Article
The
European Union has expressed concerns over the recent attack by
Republican Guard troops on Yemen's Defense Ministry in capital Sanaa,
and called on all parties in the Middle East nation to exercise
restraint and respect state institutions. (Aug 16, 2012) Full Article
Currency Alerts
The
Japanese yen fell against other major currencies in the early Asian
session on Thursday on hopes that China may take steps to stimulate
growth. (Aug 16, 2012) Full Article
The
U.S. dollar rose against its most major counterparts in Asian trading
on Thursday as investors bought the dollar on diminished expectations
for additional monetary easing by the Federal Reserve. (Aug 16, 2012) Full Article
The
pound strengthened against its major counterparts in the European
morning deals on Thursday after data showed that the nation's retail
sales increased unexpectedly in July. (Aug 16, 2012) Full Article
General News
Prince
Philip, husband of Britain's Queen Elizabeth II, has been taken to
hospital as a "precautionary measure" after the recurrence of a bladder
infection he suffered earlier this summer, the Buckingham Palace
announced on Wednesday. (Aug 16, 2012) Full Article
The
United Nations World Food Program (WFP) announced on Wednesday that it
had carried out the first in a series of airdrops in South Sudan to
replenish rapidly depleting food stocks for more than 100,000 people who
have fled fighting in neighboring Sudan. (Aug 16, 2012) Full Article
German
authorities said on Wednesday that they arrested four people suspected
of violating a standing nuclear embargo on Iran by illegally supplying
Tehran with parts needed to build a nuclear reactor. (Aug 16, 2012) Full Article
At
least 60 miners have been killed after the shaft in which they were
working collapsed in a remote region in north-eastern Democratic
Republic of Congo, local media reports citing officials said late on
Wednesday. (Aug 16, 2012) Full Article
NASA's
Lunar Reconnaissance Orbiter, using the on-board Lyman Alpha Mapping
Project, or LAMP, spectrometer, has detected the presence of helium in
the thin atmosphere of the moon, by examining far ultra violet rays
above the lunar surface. (Aug 16, 2012) Full Article
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